Atlas Lithium Corp (ATLX)

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I. PINDAÍBA PROJECT - FINAL MINING APPROVAL ANNOUNCED ON 06/04/2019! AURIFEROUS & DIAMONDIFEROUS GRAVEL PROCESSING TO BEGIN AFTER 6-8 WEEKS OF INITIAL EXCAVATION!

Minerals: Gold (50% of revenues belong to Brazil Minerals and 50% to Jupiter Gold) & Diamonds (100% of revenues belong to Brazil Minerals)

Location: Olhos-d'Água, state of Minas Gerais

Area: 1,310 acres


Highlights:

• Extensive drilling campaign conducted by Brazil Minerals and concluded in Q3 2018.

• 35/35 of drill holes were visually positive for gold.

• 57% of drill holes had high-probability diamond recovery; a “diamond-rich” zone was identified in the area.

• Results support open-sky mining.

• The target area studied in this drilling campaign is an alluvial plain along the Jequitinhonha River Valley, an area known for placer mining for gold and gem-quality diamonds for over two hundred years.

• Pindaíba is a storied mineral rights area which at one point had thousands of settlers along its river margin prospecting for diamond. Old settler activity is usually a strong indication of robust mineralization.

• Old settler activity does not diminish the recoverable gold and diamonds from Brazil Minerals’ Project, as settlers prospected at the river margin with rudimentary tools and, by law, regulated mining must be done at least 100 meters from the margins of this river.

• A royalty agreement with Jupiter Gold by which Brazil Minerals will use Jupiter Gold’s recovery plant for processing entails that Brazil Minerals will keep 50% of the revenues from gold and 100% of the revenue from diamond with respect to the Pindaíba Project.

In September 2018, Brazil Minerals announced the conclusion of an extensive drilling campaign of a portion of the mineral right of the Pindaíba Project. It was reported that Brazil Minerals drilled 35 holes spaced 30 to 50 meters utilizing a Banka 4-inch drill. All 35 holes were positive for fine gold as observed by our drilling team, and samples were collected for quantitative geochemical analysis. The average depth for the auriferous gravel layer was 8 meters and with a thickness between 1.5 to 9.3 meters.

Brazil Minerals also announced that this extensive drilling campaign yielded alluvial material with a high likelihood for diamonds in over 57% of the drill holes executed. Further analysis of the campaign’s results and inspection of collected samples indicated the existence of a diamond-rich zone within the drilled area. Satellite markers for diamonds, such as limonite, rutilite and tourmalinite, among others, were observed in all samples recovered within this diamond-rich zone.